TIAA Trust National Association Grows Position in Parker-Hannifin Co. (NYSE:PH)

TIAA Trust National Association grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,459 shares of the industrial products company’s stock after purchasing an additional 486 shares during the quarter. TIAA Trust National Association’s holdings in Parker-Hannifin were worth $16,829,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.4 %

NYSE PH opened at $651.41 on Wednesday. The stock has a market cap of $83.85 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock has a 50 day simple moving average of $660.80 and a two-hundred day simple moving average of $654.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PH shares. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus boosted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.